Land prices: the dog that’s lost its bark

Abstract

Posted by Paul Cheshire, SERC It does not take great economic insight to realise that Britain, especially south east England and above all London, faces a crisis of housing affordability; a crisis that threatens to turn into a wider financial crisis up the line as loan to value ratios increase, with house prices already accelerating ahead of incomes and rising interest rates waiting to jump out of the bushes in maybe less than a year.